Industrial Relations And Labour Laws
Human Resource

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear All, greeting!! Hi, This is Amit from Chandigarh, plesae provide me format of bonus calculation, parameters also. Plesae it is urgent. Regards, Amit
From India, Chandigarh
Take total salary paid during the last year of 12 months. Care shall be taken to ensure that the limit is Rs 3500. Loss of pay shall be proportionately deducted from this 3500 as well. (Since those receiving salary in between 3500 and 10000 will be getting bonus at the rate on 3500 only)
The annual salary is the base for bonus calculation. Find the bonus amount by multiplying it by the rate of bonus agreed. As per Bonus Act, the minimum bonus is 8.33% and the maximum is 20%. The rate will be decided mutually by an agreement with the employees. For conciliation, present a statement of Allocable surplus which is the Net Profit of the company before providing for Depreciation, Reserves, Capital expenditure and other fictitious expenditure not directly linked to the production and productivity.

From India, Kannur
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™